LCP Properties has acquired the Rock Park Radom, retail park from the seller Rock Capital. The property, with a total of 3,400 sqm of GLA and six tenants, is fully leased. The price has not been disclosed. Soon, the retail park will undergo LCP's rebranding program, officially becoming part of the M Park brand. This will be the second M Park in the city of Radom.
The newly acquired retail park in Radom is located at the intersection of Wandy Malczewskiej and Przytycka streets in the northwestern part of the city. Following the planned rebranding, it will become the second M Park in the city. The first M Park is situated in another part of Radom, on Stanisława Żółkiewskiego street. It has been successfully operating for years, offering over 19,000 sqm of fully leased GLA with 20 tenants.
The tenants of the newly acquired property include Stokrotka, Pepco, Dealz, TEDi, Rossmann, and the Kakadu pet store. A parking lot with 70 spaces is available for visitors. In the context of broadly understood ESG initiatives, electric chargers are available in the retail park's parking lot. Additionally, LCP will soon be seeking to obtain a BREEAM certification for this property at a level of at least "Very Good".
"For a long time, we have been announcing our strategic plan to expand our M Park portfolio in Poland through both development projects and acquisitions of completed properties. After launching seven new developments, the time has come to acquire an existing project. We have been closely monitoring Rock Capital’s investment in Radom since its opening. This is an exceptionally well-located property with a well-balanced tenant mix that fits perfectly into our portfolio. It will soon be renamed M Park Radom II. Thanks to this acquisition, we can now offer nearly 23,000 sqm of retail space in the city", commented Katarzyna Szeleźnik, Acquisition & Leasing Director at LCP Properties in Poland.
